- Telefónica (NYSE:TEF) will cut up to 5,000 more workers, about 20% of its workforce in Spain, according to El Pais.
- That report comes out of union talks over exit conditions, though it notes those conditions would be similar to a voluntary suspension plan in place since 2016 that resulted in 6,300 cuts.
- That plan included payments to beneficiaries of 68% of gross compension until retirement for those age 53 or older and with some seniority.
Telefónica to cut up to 5,000 more in Spain - report
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| Symbol | Last Price | % Chg |
|---|---|---|
| TEF | - | - |
| Telefónica, S.A. | ||